Basilea joined an asset purchase agreement for its brain cancer therapy following a negative Phase II study. Credit: Taljat David via Shutterstock.

Basilea has signed an asset purchase agreement with the Glioblastoma Foundation for the company’s glioblastoma candidate, lisavanbulin (BAL101553).

Under the terms of the deal, Basilea will sell and transfer all rights for lisavanbulin to the charitable organisation for an undisclosed initial purchase cost. In the future, Basilea will continue to take part in any potential commercial partnerships at a fixed double-digit percentage. The Glioblastoma Foundation plans to take over lisavanbuilin’s post-access trial programme, allowing patients from previous clinical studies to continue receiving the drug. The charity will also oversee any further clinical studies investigating the use of lisavanbulin in glioblastoma.

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Lisavanbulin is a checkpoint inhibitor that binds to tubulin, which blocks the cell cycle and triggers cell death in cancer cells. The company was developing the drug for brain cancer, and the drug even received an US Food and Drug Administration orphan drug designation in 2021 for the treatment of malignant glioma, a type of brain cancer.

However, after a disappointing Phase I/II trial (NCT02490800) readout, the Swiss pharmaceutical company decided not to expand the glioblastoma patient cohort for lisavanbulin in 2022. In the open-label study of nine patients with measurable disease at stage one, one patient demonstrated a partial response to lisavanbulin whilst another showed a 44% target lesion area reduction, as per an American Society of Clinical Oncology 2023 abstract. However, despite sustained activity in these subjects, they were unable to meet formal stage transition criteria leading to an early study completion.

Glioblastomas are fast-growing brain tumours that are commonly treated through surgery radiotherapy and chemotherapy. According to the American Brain Tumor Association, glioblastomas make up approximately 14% of all primary brain tumors, with 12,000 cases diagnosed each year in the US.

In a 20 June press release, Dr Gita Kwatra, the Glioblastoma Foundation’s CEO, said, “We strongly believe that lisavanbulin will be effective in a subset of glioblastoma patients and we are looking forward to initiating clinical trials of lisavanbulin in the US.”

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The recent announcement marks Basilea’s second publicly declared deal of 2024. In January 2024, the company signed an agreement with Spexis to acquire its preclinical antibiotics programme. Before this, in October 2024, Basilea sought out a partner for its antibiotic ceftobiprole.